06-12-2012, 11:38 AM
ICICI BANK
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OVERVIEW
India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint venture between
ICICI Bank-one of India's foremost financial services companies-and Prudential plc- a leading international
financial services group headquartered in the United Kingdom. Total capital infusion stands at Rs. 15.85 billion,
with ICICI Bank holding a stake of 74% and Prudential plc holding 26%.
We began our operations in December 2000 after receiving approval from Insurance Regulatory Development
Authority (IRDA). Today, our nation-wide team comprises nearly 100,000 insurance advisors, 19 bancassurance
partners and 200 corporate agent tie-ups.
ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength rating of AAA
(Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted as India's Most Trusted
Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we grow
our distribution, product range and customer base, we continue to tirelessly uphold our commitment to deliver
world-class financial solutions to customers all over India.
The ICICI Prudential Edge –What makes us Number 1
The ICICI Prudential edge comes from our commitment to our customers, in all that we do - be it product
development, distribution, the sales process or servicing. Here's a peek into what makes us leaders.
Our products have been developed after a clear and thorough understanding of customers' needs. It is this
research that helps us develop Education plans that offer the ideal way to truly guarantee your child's education,
Retirement solutions that are a hedge against inflation and yet promise a fixed income after you retire, or Health
insurance that arms you with the funds you might need to recover from a dreaded disease.
Having the right products is the first step, but it's equally important to ensure that our customers can access
them easily and quickly. To this end, ICICI Prudential has an advisor base across the length and breadth of the
country, and also partners with leading banks, corporate agents and brokers to distribute our products
Our vision:
To make ICICI Prudential the dominant Life and Pensions player built on trust by world-class people and service.
This we hope to achieve by:
Understanding the needs of customers and offering them superior products and service
Leveraging technology to service customers quickly, efficiently and conveniently
Developing and implementing superior risk management and investment strategies to offer
sustainable and stable returns to our policyholders
Providing an enabling environment to foster growth and learning for our employees
And above all, building transparency in all our dealings.
The success of the company will be founded in its unflinching commitment to 5 core values -- Integrity,
Customer First, Boundaryless, Ownership and Passion. Each of the values describe what the company stands for,
the qualities of our people and the way we work.
We do believe that we are on the threshold of an exciting new opportunity, where we can play a significant role
in redefining and reshaping the sector. Given the quality of our parentage and the commitment of our team,
there are no limits to our growth.
PROMOTERS
ICICI Bank
ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of Rs. 2513.89 billion as on March 31,
2006. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes
mortgages, car and personal loans, credit and debit cards, and corporate and agricultural finance.
ICICI Bank services a growing customer base of more than 17 million customers through a multi-channel access
network which includes over 620 branches and extension counters, 2,200 ATMs, call centres and Internet
banking (www.icicibank.com).
Prudential Plc
Established in London in 1848, Prudential Plc-through its businesses in Europe, UK, USA, and Asia-provides retail
financial services products and services to more than 16 million customers, policyholders and unit holders
worldwide. As of December 31, 2005, the company had over US$ 400 billion in funds under management.
Prudential has brought to the market an integrated range of financial services products that now includes life
assurance, pensions, mutual funds, banking, investment management, and general insurance. In Asia,
Prudential is the leading European life insurance company with a vast network of 23 life and mutual fund
operations in twelve countries-China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines,
Singapore, Taiwan, Thailand, and Vietnam.
FACT SHEET
THE Company
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse,
and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI
Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after
receiving approval from Insurance Regulatory Development Authority (IRDA).
ICICI Prudential's capital base stands at Rs. 15.85 billion with ICICI Bank and Prudential plc holding 74% and
26% stake respectively. For the half-year ended September 30, 2006, the company garnered Rs. 1,626 crore of
weighted new business premium and wrote 658,437 policies. The sum assured in force stands at over Rs.
64,113 crore and assets held at nearly Rs 12,000 crore.
ICICI Prudential is also the only private life insurer in India to receive a National Insurer Financial Strength
rating of AAA (Ind) from Fitch ratings. The AAA rating is the highest rating, and is a clear assurance of ICICI
Prudential's ability to meet its obligations to customers at the time of maturity or claims.